NEW YORK, Jan. 10, 2018 (GLOBE NEWSWIRE) -- The global biochar market is expected to witness a CAGR of 14.18%, and is projected to reach USD 2,607.41 million by 2023. Factors propelling the growth of the biochar market are improved soil fertility and crop yield, natural carbon sequestration property of biochar, increased government initiatives and stringent environment regulations and waste management potential.
The report segments Biochar market by Application (Gardening, Agriculture, Household), by Feedstock (Agriculture Waste, Forestry Waste, Animal Manure, Biomass Plantation), by Technology (Microwave Pyrolysis, Batch Pyrolysis Kiln, Continuous Pyrolysis Kiln, Gasifier and Cookstove, Others), by Manufacturing Process (Gasification, Fast and intermediate Pyrolysis, Slow Pyrolysis, Others), by Type (Fine Biochar Powder, Granular Biochar, Big Chip Biochar), by Region (North America, Europe, Asia-Pacific, Rest of the World (RoW)). The report studies the global biochar market over the forecast period (2017-2023).
Browse full research report with TOC on “Global Biochar Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023” at: https://www.energiasmarketresearch.com/global-biochar-market-outlook/
Biochar is a variant of charcoal with high carbon content produced by the process of pyrolysis. Biochar enhances the soil fertility, quality and nutrient retention, resulting in increased productivity along with high crop yield. Biochar reduces the carbon emissions from both natural and industrial purposes through carbon sequestrations. This in turn, influences the conservation of climate. Biochar is comparatively reliable to the environment than the forest char which is produced by forest fire causing environment pollution, greenhouse gasses and deforestation. Biochar enriches the quality of water as it is capable of absorbing in the soil nutrients and the agrochemicals which otherwise get mixed with the utilizable water.
Key Findings of the Global Biochar Market Report
- Based on application, the agriculture is the largest segment of biochar market in 2016. The intrinsic properties of biochar and government initiatives have led to the fast adoption of biochar
- Based on feedstock, Woody biomass is the largest market in 2016. Woody biomass provides high quality of biochar
- Based on manufacturing process, slow pyrolysis is expected to occupy major share during the forecast period. The biochar yield of the process is maximum than other process
- Based on Type, Granular biochar occupies the major share in 2016 and is expected to be the leading segment during the forecast period
- Geographically, North America currently dominates market of biochar and is expected to continue its dominance in the near future. The people in the region are well aware of the benefits of biochar which has led to the increased consumption of biochar over a period of time
- Asia-Pacific is expected to experience a highest CAGR during the forecast period. The rising popularity of organic farming propels the growth of biocharin the region
- In 2017, Vega Biofuels has announced that it has entered into a five year agreement to provide AKP with biochar for its own grown facilities
- The key players dealing in the global biocharmarket are Biochar Products Inc., Diacarbon Energy Inc, Agri-Tech Producers LLC, Genesis Industries, Green Charcoal International, Vega Biofuels Inc, The Biochar Company, Cool Planet Energy System, Full Circle Biochar and Pacific Pyrolysis Pvt Ltd.
InvestorCorner
The global initiatives to promote the activities that allow sustainable use of resources are providing new avenues for the investment in the biochar market. Biochar is ancient concept to convert agricultural waste to useful soil supplement. The commercialization of biochar have taken place recently. A significant amount of market capitalization is held by medium and large manufacturers. In developing companies the unorganized sector have contributed to the manufacturing and consumption of biochar. Further, the gas and liquid produced during the conversion of biomass to biochar draws special attention of investors to generate business from the power production. Moreover, the utilization of biochar for water treatment is being developed and is expected to be commercialized on a large scale in near future. Wide spread applications of biochar have drawn the attention of the investors and is expected to scale up the investments from the organized sector in the near future.
Regional Insight
The development of North American biochar market is governed by rise in significant number of medium and large scale manufacturers. The governing bodies in the region lobby the use of biochar as a way to enhance soil fertility, productiveness and climate change. The agriculture and the gardening sector in North America now prefers the use of biochar to other soil supplements.
Asia-Pacific is fast capitalizing on the biochar market. The government in the region is framing policies to include biochar in the carbon offset initiatives. The Australian government has taken the lead in providing financial benefits to the farmers that incorporate biochar in their farming practices. Further, the Australian government is planning to link its carbon farming initiative to the European Union Trading Scheme so that emitters in Europe can offset their emission by sequestering carbon emission in the Australian agriculture sector. Similar initiatives to promote the utilization of biochar are being developed globally. A number of organizations are scaling up promoting the use of biochar, the most prominent being international biochar initiative. The organizations have taken up the task to include biochar in the carbon offset programs among the member countries.
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